Wednesday, 12 August 2015

VIX unable to hold early gains

With a powerful latter day equity rally, the VIX was unable to hold early significant gains (intra high 16.28), settling -0.7% @ 13.61. However, near term outlook is for renewed equity weakness to the sp'2040s, which should equate to VIX 17/18s. The big 20 threshold looks out of range in the current cycle.




A pretty wild day in the US markets.. with VIX leaping above key resistance of the mid 14s... maxing out at 16.28.. and then rapidly cooling to a late afternoon low of 13.45

Overall... the VIX looks to have merely seen another pull back (if a rather severe one).. and the 17/18s look viable within the near term.

The big 20 threshold though, still looks out of range in the current cycle.

*yours truly exited VIX-long in the morning from 16.20... and is now re-long VIX from 14.42. Not surprisingly, I was early again on my latest entry, but overall, I'm content with being involved again from the 14s.

I would certainly be content with any pre-weekend exit >16.00, but that will clearly require the sp'2050s.

more later... on the indexes